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Home Africa

World Bank announces US$12B for vaccinations in Africa

Fabio Scala by Fabio Scala
February 1, 2021
in Africa, African Union, Aid, Coronavirus, Health
Reading Time: 2 mins read
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The World Bank announced last week that it will be committing US$12B to countries in Africa to help inoculation programs across the continent as its countries struggle to keep up with other regions of the globe.

Speaking at the Virtual Meeting on the Africa COVID-19 Vaccine Financing and Deployment Strategy last week, the president of the World Bank, David Malpass, explained that funds will be deployed as either grants or “highly concessional terms”.

“We’re preparing emergency vaccine financing projects in 21 countries in Africa, including the DRC, Ethiopia, Niger, Mozambique, Tunisia, Eswatini and Cabo Verde to name a few,” said Malpass. “The funds are available now,” he said.

According to Africa’s CDC, to date the continent has managed to secured a mere 36% of its inoculation needs, and most of that figure (about 25%) are to come from the Covax initiative with the balance from initiatives from the African Union. They also estimated that it will cost between US$10B and US$15B to 1.3 billion people or about 60% of the continent’s population.

Also Read: Africa secures 400 million more COVID-19 vaccine doses

Since the beginning of the pandemic, the World Bank has committed US$25B to African countries to support their health and economic recovery, and are expected to commit an additional US$15B by June, according to Malpass statement.

“We urge leaders of African countries to move quickly to secure vaccinations for their populations, and to avail themselves of the financing available from us.” said Malpass.

According to the WHO, cases in Africa region (excluding Morocco, Tunisia, Libya, Egypt, Sudan, Djibouti and Somalia) have been increasing rapidly since the middle of September, with South Africa presenting the continent’s worst numbers.

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Tags: africaAfrica COVID-19 Vaccine Financing and Deployment StrategyCabo VerdeDavid MalpassDRCeSwatiniEthiopiafabio scalaFeatureMozambiqueNigerpresident of the World BankTunisiavaccineWHOWorld BankWorld Bank announces US$12B for vaccinations in AfricaWorld Health OrganizationафрикаНигерأفريقياالنيجرアフリカニジェール尼日爾非洲
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Fabio Scala

Fabio Scala

Fabio Scala is a director at BNI Bank in Mozambique, an institution he helped to create and served from 2010 to 2014. In his interval from BNI, he served in a UK family office for 5 years expanding its equity portfolio in Mozambique, Zimbabwe, Zambia and South Africa. He is also a board member of Uhusiano Capital, a boutique investment firm focused in impact investment projects in Southern Africa. Prior to his African experience, Fabio has worked in the US, Portugal and Brazil where he started his career at Caixa Economica Federal - the country’s largest state bank.

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